Oh no! I’m seeing choppy market conditions once more for this system, but were the pairs able to catch some wins? Take a look!
If this is the first time you’re reading about the SMA Crossover Pullback system, make sure you look at the trading rules and risk management adjustments first.
EUR/USD had a new crossover from the earlier update, and this was followed by a stochastic pullback signal to short. This position seems to have gained some bearish momentum but not enough to activate the trailing stop, so I’m a bit worried about this recent pullback.
Cable had a short position left from the previous update, but this barely sustained its downside move before an early signal to exit on a new crossover materialized. Unfortunately, this didn’t catch some gains but it did manage to trim losses.
Lastly, EUR/JPY had a topsy-turvy ride as it had one position opened after another, only to be closed out on yet another new crossover. Bah!
On a less downbeat note, though, these new crossover early exit signals were able to grab a few pips for the pair. Here are the latest positions:
Trade Summary:
| Pair | Position | Entry | SL | PT | Status | P/L (pips) | P/L (%) |
|---|---|---|---|---|---|---|---|
| GBP/USD | Short | 1.4060 | 1.4210 | 1.3760 | Closed | -77 | -0.51 |
| EUR/USD | Short | 1.2340 | 1.2490 | 1.2040 | Open | – | – |
| EUR/JPY | Long | 130.90 | 129.40 | 133.90 | Closed | +20 | +0.13 |
| EUR/JPY | Short | 131.40 | 132.90 | 128.40 | Closed | +20 | +0.13 |
| EUR/JPY | Long | 131.30 | 129.80 | 134.30 | Open | – | – |
All in all, the pairs closed out with a 37-pip loss or a 0.25% dent on the account. Dollar price action has been funky these past few days owing to the trade spat between the U.S. and China, so it’s understandable how GBP/USD and EUR/USD have been tossing and turning.
ICYMI, check out this system’s performance for Q1 2018!